A PYMNTS Company

UK: New forex-rigging probe ready for launch

By  |  July 20, 2014

The UK’s Serious Fraud Office is reportedly ready to launch an investigation into allegations of manipulation of the foreign exchange market, according to an unnamed source.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The SFO may announce the probe this week, the source added.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    In a statement responding to the reports, the SFO said it is “receiving and examining complex data on this topic.”

    ”If and when we open a criminal investigation, that decision will be announced.”

    The SFO would be the latest regulator across the globe to launch an investigation into allegations of manipulation of the forex currency market. Allegations claim financial traders have been trading on the forex market ahead of their clients and colluding to rig the market benchmark. The UK’s Financial Conduct Authority said in June of 2013 that it was looking into the matter, and the US Department of Justice said it is eyeing a possible criminal probe regarding the matter.

    Full content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.